Cost reduction and increased market entry

So far this year, the price of batteries has seen a significant reduction due to a combination of technological, economic and market factors. This is leading to more and more solutions and applications that employ batteries being seen in the market, as prices start to become more accessible (as is the case, little by little, with electric vehicles).

This decline in costs has been driven mainly by technological innovations that have enabled the use of alternative and cheaper materials. The industry has moved towards the use of more abundant and sustainable materials, such as lithium iron phosphate (LFP) for example. In addition, production processes continue to improve step by step, enabling economies of scale with faster and more efficient battery production.

In addition to all this, there is another key factor that explains this reduction, namely the ever-increasing market competition, which has intensified price reductions by large battery manufacturers as a commercial strategy.

Advances in the development of solid-state batteries

In this first part of the year 2024, the field of solid-state batteries has continued to advance and develop, achieving greater and greater maturity. Above all, this is due to the efforts that large companies specializing in this technology are putting into accelerating the launch of their first commercial solutions, which is causing some vehicle manufacturing companies to accelerate their plans for the mass use of this technology in their automobiles.

In addition, the entry of approaches and developments such as the use of lithium metal anodes has also been crucial, offering higher energy density. Gradually, more and more advances are being made focusing on the stabilization of these anodes, allowing for longer life and better charging and discharging efficiency. In addition, more efficient and scalable production processes have been developed, reducing costs and improving quality.

The sodium boom

One of the hottest topics this year, following the end of 2023, has been the growing interest in sodium batteries, thanks to their potential potential in electric vehicles and other stationary applications as a more environmentally friendly and economical option than other alternatives.

Thus, in the first part of 2024 different companies have announced their first generations around this technology as well as their investment and development plans. With this, new developments have already been achieved around the materials used for electrodes and electrolytes that have significantly improved the performance and stability of these batteries.

In addition, this interest in the industrialization of this technology is also helping to optimize sodium battery production processes, reducing costs and increasing scalability.

Sustainability as the key pillar

During the first part of 2024, sustainability strategies have taken center stage in the battery industry, forcing manufacturers to adopt more responsible and transparent practices.

One of the main drivers of this trend has been the implementation of stricter regulatory frameworks by governments and international bodies (especially in Europe). These regulations seek to reduce the environmental impact of battery production and use, promoting the use of sustainable materials and cleaner manufacturing processes.

The regulations also require greater responsibility in waste management and recycling of batteries at the end of their useful life. All of this is done by exhaustively monitoring devices and their impacts through figures such as the Battery Passport.

The drive through new R&D technologies

So far in 2024, the use of artificial intelligence (AI) and computational modeling has been instrumental in driving the battery industry forward. AI has enabled the optimization of battery design through advanced simulations and machine learning algorithms, accelerating the development of new materials and configurations. These tools have helped to quickly identify combinations of materials that offer higher energy density, greater durability and improved charging efficiency, significantly reducing the time and costs associated with research and development.

In addition, computational modeling has improved real-time battery management. By implementing advanced algorithms, battery performance and lifetime can be accurately monitored and predicted, enabling more efficient and proactive management.

In summary, the year 2024 has witnessed significant advances in the field of batteries, highlighting cost reduction, the development of technologies such as solid-state and sodium batteries, as well as the focus on sustainability and the use of new technologies. From CIC energiGUNE we will continue to contribute, as we have done so far, in these fields to ensure that 2024, at the end, will be a year to highlight in the technological roadmap towards a more sustainable future.